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Exela Technologies (XELA) investor relations material

Exela Technologies Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Exela Technologies Inc
Q3 2024 earnings summary29 Nov, 2024

Executive summary

  • Q3 2024 revenue reached $269.2M, up 6.3% year-over-year, led by ITPS growth while Healthcare and LLPS declined.

  • Net loss for Q3 2024 was $24.9M, a $2M sequential improvement but up from $23.1M in Q3 2023.

  • Adjusted EBITDA was $14.6M, down 24.2% year-over-year but up 6.7% sequentially.

  • Nasdaq delisted shares in November 2024; now trading on OTC Pink.

  • Substantial doubt exists about the company's ability to continue as a going concern due to ongoing losses and debt maturities.

Financial highlights

  • Gross margin was 20.2% in Q3 2024, down 1.4% year-over-year and 3.3% sequentially.

  • SG&A expenses were $35.1M, down 0.8% year-over-year and 16% sequentially.

  • Interest expense for Q3 2024 was $23.4M.

  • Cash, restricted cash, and equivalents at September 30, 2024: $45.6M; working capital deficit: $262.8M.

  • Adjusted EBITDA for Q3 2024: $14.6M; for nine months: $41.2M.

Outlook and guidance

  • Management is focused on cost savings, new financing, and potential asset sales to address liquidity and debt obligations.

  • Plans to spend 1.2% of total revenue on capital expenditures over the next twelve months.

  • Focus remains on revenue growth, margin improvement, and strategic initiatives.

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Frequently asked questions

Exela Technologies Inc. is an American company specializing in business process automation (BPA). The company's offerings encompass a broad range of services and products aimed at enhancing operational efficiencies, including enterprise information management, transaction processing services, and business process automation solutions. Exela operates across multiple sectors, offering industry-specific solutions for banking, healthcare, insurance, and the public sector, as well as departmental solution suites that address finance and accounting, human capital management, and legal management. Exela Technologies Inc. is headquartered in Irving, Texas, and its shares are listed on the Nasdaq.

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